Edmonton Real Estate Blog

Shopping for a new home is an exciting time, filled with anticipation and possibilities. While finding exactly the right home for your family’s needs is the main goal, you do need to look at the process overall. One of the key components of the home buying process is making the offer, which means you need a mortgage pre-approval and with that comes the mortgage commitment letter.

A mortgage pre-approval reviews your credit history, credit score, current employment and income, and any outstanding debts you have. At this stage, lenders preliminarily determine your qualification for a loan and the amount you’d qualify for in your current situation. From this, they issue you a mortgage commitment letter.

Let’s find out more about this important document and what part it plays when it comes to buying your new home. Read More

Moving into a new home is an exciting time, but sometimes there can be some additional expenses you want to prepare for. For these circumstances, lenders can offer a specific type of mortgage – a cash back mortgage – to provide you… Read More

One of the most important aspects of the home-buying process is knowing what to expect — especially when it comes to new home costs. The thought of buying a home can be daunting, and you don’t want to be taken by surprise with any unexpected fees. Knowing potential surprises in regards to the costs of buying a home will help you prepare financially and mentally. Read More

From pre-approval to closing day, the entire mortgage process can be a stressful experience, even when everything goes to plan. But while everyone will always do their best to make sure the process goes smoothly, there’s always room for error. Read More

With the easy availability of credit these days, it’s rare to have to save up a significant amount of money to make a purchase. For most, the one exception to this rule is the down payment on a home. Canadian mortgage rules require you to… Read More

Wouldn’t it be nice if you could make money using someone else’s money?

You can! That’s what happens when you take out a mortgage to purchase an investment property. Sure, you need to put some of your own money down for the down payment, but the bulk of your purchase is borrowed. You can then use the income you earn from tenants to pay down the principal balance and build up your equity. Read More

You’ve already achieved your dream of homeownership, and now you’re starting to think about a second home now. Maybe it’s a nice vacation home so that your family can spend the summers relaxing by the beach or the winters hitting the slopes. Maybe you’re looking for a new place to live but realize that your current place is the perfect rental unit. Read More

Property taxes are handled a bit differently when buying a new home and how they are handled depends on the time of year and whether or not the annual invoice has been paid by the Builder yet. Read More

Early last year, as the world woke up to the COVID-19 outbreak, its negative consequences were felt across the globe. To cope with the far-reaching effects of the raging pandemic, several organizations and businesses, big and small, implemented changes to reduce the colossal loss to human life as well… Read More

There’s a lot to think about when it comes to buying a new home, but one of the first things you’ll need to figure out is the down payment. You’ll need to come up with this before the home-buying process can begin. Read More